Shimmick Co. (NASDAQ:SHIM) Short Interest Update

Shimmick Co. (NASDAQ:SHIM) was the recipient of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 52,300 shares, a drop of 27.7% from the February 13th total of 72,300 shares. Currently, 1.6% of the company’s shares are sold short. Based on an average daily trading volume, of 72,000 shares, the short-interest ratio is presently 0.7 days.

Shimmick Trading Down 1.8 %

Shares of Shimmick stock traded down $0.03 during trading on Friday, hitting $1.67. 54,963 shares of the company were exchanged, compared to its average volume of 414,337. The firm has a market capitalization of $56.44 million, a P/E ratio of -0.43 and a beta of 0.59. The firm’s fifty day moving average price is $2.27 and its 200 day moving average price is $2.43. The company has a debt-to-equity ratio of 58.60, a current ratio of 0.80 and a quick ratio of 0.80. Shimmick has a 1-year low of $1.47 and a 1-year high of $7.05.

Shimmick (NASDAQ:SHIM) last issued its earnings results on Thursday, March 13th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.62). The firm had revenue of $103.55 million during the quarter, compared to the consensus estimate of $118.90 million. Shimmick had a negative net margin of 20.16% and a negative return on equity of 355.53%. During the same period in the previous year, the company posted ($0.59) EPS. As a group, sell-side analysts expect that Shimmick will post -2.48 earnings per share for the current fiscal year.

Institutional Trading of Shimmick

Hedge funds have recently added to or reduced their stakes in the business. Sanders Morris Harris LLC increased its holdings in shares of Shimmick by 20.7% in the fourth quarter. Sanders Morris Harris LLC now owns 712,665 shares of the company’s stock worth $1,846,000 after acquiring an additional 122,442 shares in the last quarter. State Street Corp acquired a new position in shares of Shimmick in the 3rd quarter valued at approximately $36,000. Avanza Fonder AB bought a new stake in Shimmick during the 4th quarter worth approximately $52,000. Thompson Davis & CO. Inc. acquired a new stake in Shimmick during the 4th quarter worth approximately $96,000. Finally, LPL Financial LLC bought a new position in Shimmick in the fourth quarter valued at approximately $284,000. Institutional investors and hedge funds own 6.94% of the company’s stock.

About Shimmick

Shimmick Corporation provides water and other critical infrastructure solutions in the United States. The company undertakes water and wastewater treatment infrastructure; water storage and conveyance, including dams, levees, flood control systems, pump stations, and coastal protection infrastructure; and mass transit, bridges, and military infrastructure projects.